U.S. President Barack Obama fields questions during a news conference on Sunday afternoon.
Published June 27, 2010
Associated Press
President Barack Obama on Sunday welcomed an international commitment for rich countries to slash their deficits in half by 2013, despite his earlier warnings against halting stimulus spending too abruptly.
"We can't all rush to the exits at the same time," Obama told a news conference at the conclusion of a summit of the 20 major industrial and developing economies.
Obama also issued a warning to North Korea, saying its alleged sinking of a South Korean warship was "belligerent behavior that is unacceptable" to the international community.
"It is absolutely critical for the international community to rally behind" South Korean President Lee Myung-bak, Obama said.
Obama spoke after G-20 leaders issued a statement calling for "advanced" nations to halve their budget deficits -- as a proportion of gross domestic product growth -- by 2013, and to put their annual deficits on either a lower or a more stable basis by 2016.
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